Lazy Man's Coin Collection Dispersal
Choppy
Posts: 30 ✭✭
I'm just a few months away from retiring and moving out of the city, and I need to downsize a bit. I thought I'd start by unloading my collection of modern commemoratives, but it turns out that they're a little less 'liquid' than I anticipated.
I have nearly all of the dollar and half dollar commemorative issues from 1982 to 2022 in their original mint capsules. (I have the boxes and CoAs as well, stored separately.) I skipped some of the 1995-96 Olympic issues because there were just too many of them for me to keep up with.
I know that I'd get my best price by selling these coins individually, but the thought of photographing 100+ coins, listing them on eBay, dealing with returns and scammers, etc. just fills me with despair. I asked Great Collections if they were interested, but so many of the coins are worth not much over melt, and they seemed kind of "Meh" about taking them.
So, what's next? Find a buyer in a coin magazine and ship the whole set to them for a (probably) lowball check? Take them to a pawn shop and ask for the melt value? Pass out the coins at the local grade school? Actually, that last idea sounds kind of appealing.
I welcome your opinions.
Comments
I like the idea of giving them away. Send me a message on what you’re looking to sell them for please.
The BST sub here, Reddit subs etc. would reach a wider audience.
My son uses a variety of social media platforms but if on my own, would be not so comfortable dealing with the enquiries for the same reasons you mentioned about returns/scammers and so on.
Since you have a few months to go before the move, I would suggest checking with dealers at the coin shows and with the local B&M stores as well as with the coin clubs.
They may be able to help out because I was initially ignorant of the existence of many such places in the previous location where I lived, since most of them are not very technology friendly and word of mouth introduction helps better with the networking as it turned out in my case.
Happened to chat with a dealer at a coin show and he invited me to a low profile coin club in an obscure part of the state. It was really great fun attending their meeting that concluded with an auction. Am planning to spin off a few of my stuff at that venue since it is easier than having to deal with eBay and such.
All the best with the endeavor.
Cheers.
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
To be fair to potential buyers, before assuming a lowball offer, remember- whoever buys the coins is going to have to sell the them individually, potentially including photographing 100+ coins, listing them on eBay, dealing with returns and scammers, etc. if they want to get their best price and most people will want to make something for their trouble.
Local coin shop. No muss, no fuss, get paid right away. Your time and effort is worth something, isn't it?
In honor of the memory of Cpl. Michael E. Thompson
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you could also check for nice toned (colors red, blue, orange, green etc) on them. that should up the value and interest. i've only bought a few handfuls of these over the years and am not sure if the mint packaging equated to nicely toned modern comems. it seems to do WONDERS for the classics.
I would make a list of everything you have and post it on the Buy-Sell-Trade Forum along with a price for the lot and that you are open to offers. I think you will get some offers. It does help if everything is still in the original government packaging with the COA. You might be able to get away with a single picture of the whole lot.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
Photos please if you use the BST or any other venue.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
The coins you have, unfortunately, are going to generate little interest. Take them to a local dealer, sell them and be done with it. Perhaps the bullion value will help ease your problem.
Any dealer should pay you 25% back of greysheet +/-5%. That's a fair offer. Find one and be done with it. You are unlikely to find retail buyers for over greysheet and even on a $50 set, the $10 difference gets eaten up in fees and effort. If you don't want to make the effort - and you shouldn't - let someone else make the effort and stop worrying about the fact that you are selling wholesale.
When I see the stuff at estate auctions it usually goes for melt value and maybe a little extra to scare other bidders away. Seller usually isn't on the winning end.
"A dog breaks your heart only one time and that is when they pass on". Unknown
25% of greysheet? Really?
Is 25% a typo?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Sorry, lost a word. 25% back of grey. Thanks
Fixed it. It's 25% back of greysheet, or 75% of greysheet. Sorry about that. Lost a word.
@Choppy ... Welcome aboard. Take the lot to a local shop/dealer. Take a lump sum cash payment and be done with it. Cheers, RickO
If these go to greatcollections, they would most likely need to get slabbed and there’s no reason to dump more money into $10-$40 coins. Probably wanna sell these locally to someone because sounds like you’ve got a carload full of packaging on them.
To me these are a numismatic headache and worth moving along as a group and be done with it.
Thanks, everyone! It seems that the consensus is that I take the set over to my LCS and see what they can do for me.
Mark my words, though: Once I sell this set for whatever I can get, the values of modern commemoratives will take off like a rocket.
Take it to more than one place, cause there is a chance that they might make low offer
One side note. You had the opportunity to own and enjoy them for a time. That's worth something. So even if you can't get much over melt form a dealer you had the pleasure of ownership.
I do not know what part of country you live, but check out proxibid and hibid. They have local auction houses and most take consignments with good viewing if they also offer shipping.
I can tell you right now, with the exception of a few issues, like 01 Buffalo $, 95 MS Olympic (which you stated you dont have) , Law enforcement and few other issues, we buy at scrap value, they dont sell period. I can price these in store at buck over melt, and they sit for ever. And the clad halves forget it with maybe exception like the baseball , basketball colorized, buy em dirt cheap, they dont sell.
With all due respect, this is not usually a good idea. You will end up with fees in the 20 to 30% range and no guarantee they will even sell for spot. I buy commems at local auctions at 25% or more back of bid. And the consignor is going to get 30 to 30% less than that. Yes, occasionally something catches a bid but even if they sell for retail, you're getting far less than retail in your pocket. And retail is rarely more than 10% above bid.
If you offer to Great Collections and allow them to sell as a couple lots or maybe 4 lots, BU Half’s & BU Dollars, Proof Half’s and Proof Dollars if you have both BU and Proofs and allow a group photo or 2 per lot I bet Ian would sell them. They do sell raw coins. Can’t hurt to ask.
Also check with a local auction auctioneer who has in person auctions ,,, maybe a misc auction company. People see stuff in person and sometimes go crazy and bid way too high. The less the place (and the buyers) knows about coins the better for the seller. If you go this route sell them one at a time and I bet you do pretty good.
It is sad to compare this to the immediately prior post. I'll be @jmlanzaf has more experience with modern commems at out of the way local auctions than @GRANDAM
It's not impossible that something catches a bid, as I said. The odds of EVERYTHING catching a bid is miniscule and the costs of selling in such venues is significant. I've spent thousands on commems at auctions over the years and then flipped them wholesale at a profit. I've also seen someone pay $30 for a $22 commem. But $30 is going to be $21 net.
In my experience, it was easier to "win" at local auctions when silver was cheaper. When Statue of Liberty $s were $10 items, someone might spend $15 or $20. When they are $22 items, it is much less likely that they want to spend $30 or $35.
FWIW, I just bought two slabbed 100 Corona coins (0.98 oz) in a HERITAGE auction for $1680 each including BP. They melted at $1860 at the time. And that was HERITAGE!!! What did the consignor yield on those and at what cost? As soon as they arrive, I'm flipping them wholesale at $1860. The consignor could have done that originally and netted $1860 instead of the possible $1500 or less they netted. [If they were a straight consignment with 20% BP and 10% seller's premium, they might have netted as little as $1200.]
Just last month, I bought 5 one-dollar commems at a local auction for $17.50 each (with BP) which I flipped wholesale for a small profit. Again, the consignor net is a little over $12!!! And they melt at $17!!
And yes, I also saw a 2001 Buffalo commem sell for $100 [Greysheet $80, dealer wholesale $60] in the same auction. But how lucky do you feel?